The Effects of money laundering on the performance of commercial banks in Zimbabwe · Electronic Theses and Dissertations

Author: Norest Gota
Title: The Effects of money laundering on the performance of commercial banks in Zimbabwe
Abstract: The purpose of this study was to evaluate the effects of money laundering on the performance of Commercial banks in Zimbabwe. This study was motivated by the need to ensure that banks have a clear understanding of the effects of money laundering, the consequences of not matching international standards in preventing money laundering, the various limitations in the various techniques used in money laundering. The study was mainly quantitative. Questionnaires were used to collect information from CBZ IT and treasury employees. The study's findings supported the transparency-stability theory, which contends that by reducing information asymmetry, greater disclosure and transparency enable efficient resource allocation . It was then recommended that banks should implement world standard IT anti-money laundering measures should be put in place to ensure efficient screening of transactions. These should be linked to the main banking systems that processes transactions. It solutions to anti-money laundering always updated in terms of trends and data on recent trends in money-laundering, that is closing the information gap between banks in Zimbabwe and other developed countries that makes Zimbabwe a potential destination for money launderers. Money laundering awareness training should also be done to everyone involved in the transaction processing channel not just the anti-money laundering team.
Date: June 2023
Publisher: BUSE
Keywords: Anti-Money Laundering; Information Technology
Supervisor: N/A

Item sets: Department of Banking and Finance

Media: Norest Gota.pdf